Achmea Innovation Fund has backed the micromobility insurer in a round led by Shift4Good.
"In a world where the demand for green and healthy transport options continues to rise but electric bicycles are also becoming increasingly expensive, Laka is at the forefront with innovative solutions."
The funding round was led by Alfvén & Didrikson alongside a debt facility from Pollen Street Capital.
"While two out of three UK drivers want their next car to be electric, the transition can be expensive and daunting. At Onto we’ve been changing the rules of the game for car ownership through our no-commitment, all-inclusive subscription service. Our focus is on providing an easy, flexible and affordable alternative, and we’re seeing huge demand."